- Opinion & Analysis
- Read Time: 6 min
When you’re developing a strategy for a new business, testing assumptions in your plan in a logical order gives you the best chance to make course corrections early — and not waste time and money.
Showing 1-20 of 53
The notion that one mentor can meet all of an individual’s developmental needs is increasingly outdated. Instead, many people now draw from a “personal board of advisors,” which can encompass a range of individuals, from friends or family who provide emotional support to role models the person may not personally know. The authors identify six types of personal advisors who, together, provide a broad combination of psychosocial support and career support.
Should you offer your best prices to new customers or existing ones? Recent research suggests that the answer depends on customers’ shopping flexibility and the degree to which customers’ value varies. When consumer preferences are highly fluid and the highest-value customers are much more valuable than others, then companies should reward their best existing customers. But if either of those characteristics is not in place, companies should offer their best prices to new customers.
Although many organizations initiate business process outsourcing to reduce costs or acquire new skills, it can evolve into much more. Sometimes, service providers deliver substantial long-term improvements to the client’s operating efficiency and strategic performance. But these improvements seldom happen unless clients and providers implement a process that combines acculturation across organizations, a method for generating ideas, adequate funding and a system for managing change.
In the tug of war between manufacturers and retailers, retailers seem to be winning. Retailers control market access and influence consumer behavior. Their power has moved downstream. What can be done to improve the situation? While manufacturers are locked into fixed investments and products with long payback cycles, retailers have a variety of ways of making money. This article explores how manufacturers can benefit by tailoring their approaches to a retailer’s specific business model.
There’s a business relationship that’s often overlooked: the relationships in between friends and allies — in other words, business relationships with people you enjoy being with. This article defines these people as chums and asserts that their importance too often goes unnoticed. Dale Carnegie’s How To Win Friends & Influence People is a practical classic on the art of cultivating chums — of inviting business allies into your courtyard while keeping them out of your kitchen.
It’s difficult to start a venture that gains traction with paying customers, but it’s even harder to grow beyond certain levels of sales. The original business model must deal with new products or markets. Early leadership behaviors are often no longer viable. Moreover, different customers come with different transaction costs for the seller. This article discusses the importance of customer selection and how intelligent opportunity management can help companies scale their selling initiatives.
Innovative companies fund internal research and development to gain an edge in the marketplace. They also work closely with suppliers to offer greater functionality and performance for their customers. However, some critical new product insights don’t come from suppliers and customers working together but from the customer’s customers. Drawing on numerous examples from technology companies, this article explores the various ways parties can collaborate so that everyone benefits.
New research shows that people who borrow money often have a “self-serving bias” and recall having paid back a larger proportion of the loan than they actually have. If you lend money to a friend, you should be prepared to have to walk out of your life.
As China’s growth and integration into the world economy continue, many companies are looking for ways to build effective business relationships with Chinese companies. China’s ways of doing business are becoming more Westernized, but non-Chinese executives must still work hard to build trust in relationships with their Chinese business partners. But developing trust between Chinese and Western executives takes time. This article explores methods for developing cross-cultural trust.
HEC Paris associate professor Valérie Gauthier has developed a management approach she calls “savoir-relier” to help managers build relationships and encourage diversity.
It has become accepted wisdom that weak ties — your acquaintances, distant colleagues — can provide more novel information than close ties. But new research by Marshall Van Alstyne, associate professor at Boston University and a visiting professor at MIT, suggests that in some cases strong ties are better.
Do your opening sentences get people to pay attention? When pitching a start-up idea, you need to get to the core innovation right out of the gate. When making any kind of presentation, a counter-intuitive statement, surprising fact or arresting story can get people to put their phones down.
Certain types of marketing techniques — those aimed at increasing customer lifetime value (CLV) — can be linked to stock price increases.
The Web has made it easier than ever to reconnect with long-lost professional colleagues. Does it pay to do so? New research says yes — and suggests that every smart manager will try.
MIT’s Andrew McAfee has a new book that looks at Enterprise 2.0 tools as a way to span organizational networks. In an interview, he talks about the wide variety of organizations that are embracing the collaborative use of technology, the upsides of being able to identify who knows what, and why managers should be interested in Facebook.
Showing 1-20 of 53